Harrow Prices $25 Million Offering
December 14 2022 - 6:31AM
Business Wire
Harrow Health, Inc. (Nasdaq: HROW), an eyecare pharmaceutical
company exclusively focused on the discovery, development, and
commercialization of innovative ophthalmic prescription therapies,
today announced that it priced an underwritten registered offering
of 2,376,426 shares of its common stock at a price of $10.52 per
share for aggregate gross proceeds of $25 million. The offering is
expected to close on or about December 16, 2022, subject to
customary closing conditions.
The Company expects to use the net proceeds from the sale of the
common stock to fund a portion of the purchase price payable for a
previously announced acquisition, with any remaining net proceeds
available for general corporate purposes, including funding future
strategic product acquisitions and related investments, making
capital expenditures, and funding working capital.
B. Riley Securities is acting as sole book-running manager for
this offering.
The common stock in this offering is being offered by Harrow
under its shelf registration statement on Form S‑3, which was
declared effective by the Securities and Exchange Commission (the
“SEC”) on June 6, 2022. A prospectus supplement and accompanying
base prospectus relating to this offering will be filed with the
SEC. Copies of the prospectus supplement and the accompanying base
prospectus may be obtained on the SEC’s website at www.sec.gov, or
by contacting B. Riley Securities by phone at (703) 312‑9580, or by
emailing prospectuses@brileyfin.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.
About Harrow
Harrow (Nasdaq: HROW) is an eyecare pharmaceutical company
exclusively focused on the discovery, development, and
commercialization of innovative ophthalmic prescription therapies
for the U.S. market that are accessible and affordable. For more
information about Harrow, please visit the Investors section of the
corporate website, harrow.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Any statements in this release that are not historical facts
may be considered such “forward-looking statements.” Such forward
looking statements include, but are not limited to, statements
regarding the intended use of proceeds of the common stock
offering. Because these forward-looking statements involve known
and unknown risks and uncertainties, there are important factors
that could cause actual results, events or developments to differ
materially from those expressed or implied by these forward-looking
statements. Factors that could cause actual results to differ
include (without limitation) the possibility that the common stock
offering will not be consummated at the expected time, or at all.
Additional risks and uncertainties are more fully described in
Harrow’s filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K and its Quarterly Reports
on Form 10-Q. Such documents may be read free of charge on the
SEC's website at www.sec.gov. Undue reliance should not be placed
on forward-looking statements, which speak only as of the date they
are made. Except as required by law, Harrow undertakes no
obligation to update any forward‑looking statements to reflect new
information, events, or circumstances after the date they are made,
or to reflect the occurrence of unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20221213005819/en/
Jamie Webb Director of Communications and Investor Relations
jwebb@harrowinc.com 615-733-4737
Harrow (NASDAQ:HROW)
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